The Dangers of Overpricing Your Southern California Home
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Today I'd like to discuss the dangers of overpricing your home. It really is a great way to ruin your selling process before it's even started. I've been noticing a lot of overpriced homes lately, and so I wanted to speak about how you can avoid overpricing your property.
Usually in September we have the largest amount
of inventory in the entire year. This is a trend that
I've seen for a long time. But what does this mean for you? It means that with
all of this competition, you have to price your home well if you want
to sell.
If your home gets no showings or very few showings, your
home is probably overpriced by 10%. If your home gets a lot of showings (2-3
per week) but no offers, then your home is probably overpriced by about 5%. If
your home gets an offer within the first 30 days, then your home was
priced correctly from the beginning.
Your top priority is not to sit on the market
for longer than 90 days. If you sit for that long, people
will believe that something is wrong with your property and they will not offer
top dollar on your home.
Sometimes agents will be desperate for a
listing and they will promise you an unrealistic sale price. As
a real estate professional, this is highly frowned upon and it is a major
disservice to the consumer. I would rather pass on a listing than
promise a client something that I know I cannot give them.
If you're looking for an honest answer about what your home
might sell for on the market, please don't hesitate to contact me. I would be
very happy to help you!
Five Reasons Why Real Estate Investments Will Change Your Life
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Want to buy a Southern California Home? Search all homes for sale
Today we're going to be talking about the stock market versus the real estate market. The stock market just crashed by 1,000 points recently, and fortunately it rebounded. Today I have five reasons why you should invest in real estate instead of the stock market.
1. Cash-flow: You have a
constant stream of cash when you invest in a property. This is the biggest
benefit to investing in real estate.
2. Tax advantages: Real
estate is unique in this aspect. You get a lot of tax benefits when you own
property.
3. Hedge against inflation: Inflation
makes it harder to purchase certain stocks, but real estate isn't affected by
inflation. Prices will go up and down, but they won't inflate.
4. Leverage: When you purchase a property, you have the ability to do so with leverage. It's possible to buy a $750K property for 20% down or less. Stocks require that you put down all the money up front.
5. Equity: If you're
borrowing money to complete a real estate transaction, you'll be required to
pay it back with interest, but each payment brings you closer to paying down
your principal. You gain wealth each month that you pay off your mortgage.
I know a young man that owns five properties in California and Las Vegas right now, and he plans on owning 20 properties by 2020. He estimates that this will generate him $20,000 per month in passive income. That's not too bad, is it?
Call me today if you'd like to start the journey. Real
estate is a wonderful investment!
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